PORTFOLIO Online — The Challenges of Asset Allocation in the Age of Low Rates and a Fed Backstop
Since the Global Financial Crisis in 2008-09, global central banks have forced interest rates lower in an effort to drive inflation and economic growth higher. By all indications, this globally coordinated policy will continue for the next few years. With that backdrop, this panel will discuss how institutional investors are shifting their asset allocation policy in order to generate the returns that are required to meet current and future obligations.
Brian Haskin | Brian Haskin is the director of marketing and business development and is responsible for managing and directing the firm’s sales, client service and marketing activities in the retail and institutional channels. Before joining Poplar Forest in 2017, Mr. Haskin spent 24 years in the investment management industry specializing in distribution, product development and investment strategy across both traditional and alternative investment products. His experience includes senior management roles in the U.S., Asia, and Australia for firms such as Barclays Global Investors (now BlackRock), Wilshire Associates, Deutsche Asset Management and Analytic Investors. Early in his career, Brian practiced as a Certified Public Accountant with Ernst & Young and served as a senior financial analyst with The Walt Disney Company.
He earned his Masters of Business Administration, with honors, from the Booth School of Business at the University of Chicago, and a Bachelor of Science degree in Business Administration from the University of Southern California. Back To Top ^^
Jonathan Grabel | Jonathan Grabel is the Chief Investment Officer (CIO) for the Los Angeles County Employees Retirement Association (LACERA). Mr. Grabel manages the $58 billion defined benefit pension fund on behalf of LACERA's 174,000 active and retired members. He also oversees the investments for the LACERA-administered $1 billion healthcare benefits program.
Prior to LACERA, Mr. Grabel was the CIO for New Mexico PERA where he oversaw the investments for the agency’s $15 billion defined benefit fund and the associated PERA SmartSave deferred compensation plan. Previously, he was a general partner at Baker Capital, a private equity firm focused on growth-stage investments in technology, networking industries and digital communications. Earlier in his career, Mr. Grabel was an investment banker and licensed CPA (inactive).
Mr. Grabel received his BS in economics from the Wharton School of the University of Pennsylvania and his MBA from the University of Chicago Booth School of Business. Back To Top ^^
Susan Yun Lee | Susan Yun Lee is the Managing Director of Investments of The Broad Foundations, where she manages $2.5 billion in assets for The Eli and Edythe Broad Foundation and The Broad Art Foundation, as well as the Broad family’s personal investments. Previously, Susan was a Partner at Angeles Investment Advisors, where she founded and led a multi-billion dollar private equity, private credit, and venture capital investment practice and advised endowments and foundations on overall portfolio asset allocation and implementation strategies across asset types. Before that, Susan was a private equity investor at Black Canyon Capital and Vintage Capital Partners, where she made direct investments in private companies and worked with portfolio companies on growth and capital financings. She began her career in strategy consulting at Bain & Company and strategy and mergers and acquisitions at The Walt Disney Company. Susan has an MBA from Harvard Business School where she earned honors and was a Toigo Fellow. She earned a B.A. in economics from Stanford University, where she graduated Phi Beta Kappa and was awarded the Rosamond Bacon Scholarship for leadership, the Anderson Scholarship for academic achievement, and Omicron Delta Epsilon for excellence in Economics. She was named one of the top 40 NextGen by Chief Investment Officer in 2018 and one of the top 30 Family Office Rising Stars by TrustedInsight in 2017. Susan serves on the Investment Committee of The Library Foundation and the Board of Directors of the Boys and Girls Club Venice, as well as other leadership and board roles. She lives in Los Angeles with her husband and two children. Back To Top ^^
Karyn L. Williams, Ph.D. | Karyn Williams is the founder and managing partner of Hightree Advisors, an independent consultancy committed to helping institutional clients identify and create sources of value through improved governance, risk, and lifecycle cost management. Drawing upon her significant experience transforming institutional investment programs, Karyn offers clients comprehensive services such as custom investment education, non-complex and risk-aware portfolio design and analytics, and strategic counsel oriented to investment lifecycle efficiency. Hightree’s ultimate objective is to help institutional investors identify and implement opportunities to regain and sustain real dollar value improvements in investment performance.
Prior to establishing Hightree, Karyn was the chief investment officer of Farmers Group Inc., head of client solutions at Two Sigma Advisers, and a partner and managing director at Wilshire Associates. Over the course of her career, Karyn has built a demonstrated track record of success in designing and implementing effective investment programs for a wide variety of organizations.
Karyn is an independent public company director, NACD Governance Fellow, and serves as finance chair, treasurer and trustee for public and private foundations. She is an industry leader, author, innovator and educator. Karyn graduated from Arizona State University, where she earned a B.S. in Economics and a Ph.D. in Finance. Back To Top ^^
James Williams | Jim Williams has been the Chief Investment Officer of the J. Paul Getty Trust since December 2002. Prior to this position, Jim spent 3 years as the President of Harbor Capital Advisors and President of the Harbor family of mutual funds. Prior to joining Harbor, he was manager of the Pension Asset Management department of Ford Motor Company. Jim serves on the boards of trustees for Ariel mutual funds and for SEI mutual funds. And Jim is on the board of the Toigo foundation, which promotes opportunities for minorities in the financial services industry. Jim has a BS in engineering from the University of Michigan and an MBA in finance from the University of Chicago. Back To Top ^^
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|As a participant in the CFA Institute Approved-Provider Program, the CFA Society of Los Angeles has determined that this program qualifies for 1 credit hour. If you are a CFA Institute member, CE credit for your participation in this program will be automatically recorded in your CE Diary.|